Can I retire at age 56 with 873,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $873,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.1%
1 years$72,092$71,449$70,823$70,211$69,614$68,716
2 years$35,689$35,024$34,380$33,755$33,150$32,246
3 years$23,556$22,889$22,246$21,627$21,031$20,150
4 years$17,491$16,826$16,190$15,581$15,000$14,148
5 years$13,853$13,191$12,564$11,968$11,403$10,583
6 years$11,428$10,772$10,153$9,571$9,023$8,236
7 years$9,697$9,046$8,437$7,869$7,338$6,584
8 years$8,399$7,754$7,156$6,601$6,087$5,367
9 years$7,390$6,751$6,163$5,623$5,126$4,439
10 years$6,584$5,951$5,373$4,847$4,368$3,712
11 years$5,924$5,298$4,730$4,218$3,757$3,133
12 years$5,375$4,755$4,198$3,700$3,255$2,663
13 years$4,911$4,297$3,751$3,266$2,839$2,276
14 years$4,513$3,906$3,370$2,900$2,488$1,955
15 years$4,169$3,568$3,043$2,586$2,191$1,686
16 years$3,868$3,274$2,759$2,315$1,936$1,459
17 years$3,602$3,015$2,510$2,080$1,717$1,267
18 years$3,367$2,786$2,292$1,875$1,527$1,102
19 years$3,156$2,582$2,098$1,694$1,361$961
20 years$2,967$2,399$1,925$1,534$1,215$839
21 years$2,796$2,235$1,771$1,392$1,088$734
22 years$2,641$2,086$1,632$1,266$975$643
23 years$2,499$1,951$1,507$1,153$875$564
24 years$2,370$1,828$1,394$1,052$787$495
25 years$2,251$1,716$1,291$960$708$435
26 years$2,141$1,612$1,197$878$638$382
27 years$2,040$1,517$1,112$804$575$336
28 years$1,946$1,430$1,033$736$519$296
29 years$1,858$1,349$962$675$468$261
30 years$1,777$1,274$896$620$423$230
31 years$1,701$1,204$835$569$383$203
32 years$1,630$1,140$779$523$346$179
33 years$1,563$1,079$728$481$313$158
34 years$1,501$1,023$680$443$284$139
35 years$1,442$970$636$407$257$123
36 years$1,387$921$595$375$233$108
37 years$1,334$875$556$346$211$96
38 years$1,285$831$521$319$191$84
39 years$1,238$790$488$294$173$75
40 years$1,194$752$458$271$157$66
41 years$1,151$716$429$250$143$58
42 years$1,111$682$403$231$129$51
43 years$1,073$649$378$213$118$45
44 years$1,037$619$355$197$107$40
45 years$1,003$590$333$182$97$35
46 years$970$563$313$168$88$31
47 years$938$537$294$155$80$28
48 years$908$513$276$143$73$25
49 years$880$490$259$132$66$22
50 years$852$468$244$122$60$19

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $873,000, adding $5,839 every year, while hoping to spend $30,728 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 72/15/13 Blend
55$873,000$873,000$873,000$873,000
56$968,069$921,800$908,268$1,034,667
57$1,034,118$934,274$906,001$1,092,028
58$1,105,873$946,329$902,628$1,150,493
59$1,183,886$957,913$898,079$1,213,693
60$1,268,760$968,968$892,283$1,282,090
61$1,361,161$979,435$885,162$1,356,191
62$1,461,821$989,249$876,636$1,436,556
63$1,571,545$998,341$866,622$1,523,804
64$1,691,221$1,006,638$855,032$1,618,614
65$1,821,825$1,014,062$841,775$1,721,736
66$1,964,430$1,020,530$826,753$1,833,996
67$2,120,219$1,025,953$809,867$1,956,306
68$2,290,494$1,030,238$791,010$2,089,670
69$2,476,689$1,033,284$770,074$2,235,194
70$2,680,382$1,034,985$746,941$2,394,099
71$2,903,310$1,035,228$721,493$2,567,729
72$3,147,387$1,033,894$693,602$2,757,567
73$3,414,719$1,030,854$663,137$2,965,248
74$3,707,628$1,025,973$629,960$3,192,572
75$4,028,669$1,019,109$593,926$3,441,526
76$4,380,657$1,010,108$554,886$3,714,298
77$4,766,690$998,810$512,681$4,013,303
78$5,190,184$985,043$467,147$4,341,199
79$5,654,899$968,626$418,113$4,700,919
80$6,164,977$949,367$365,398$5,095,696
81$6,724,981$927,063$308,816$5,529,094
82$7,339,939$901,498$248,170$6,005,039
83$8,015,385$872,445$183,257$6,527,863
84$8,757,420$839,660$113,862$7,102,337
85$9,572,764$802,891$39,763$7,733,725
86$10,468,818$761,865$0$8,427,825
87$11,453,739$716,297$0$9,196,484
88$12,536,510$665,885$0$10,047,537
89$13,727,030$610,310$0$10,983,266
90$15,036,204$549,232$0$12,012,270
91$16,476,049$482,296$0$13,144,027
92$18,059,801$409,124$0$14,388,981
93$19,802,047$329,317$0$15,758,641
94$21,718,857$242,455$0$17,265,691
95$23,827,936$148,091$0$18,924,112
96$26,148,795$45,757$0$20,749,307
97$28,702,930$0$0$22,758,255
98$31,514,025$0$0$24,980,403
99$34,608,179$0$0$27,434,670
100$38,014,149$0$0$30,136,319